How cryptos changed the game
The use of blockchain technology has become the pattern in the gambling industry, and the nature of these online gaming platforms is appealing to many players worldwide thanks to their speed and great offers.
Using cryptocurrency as a mode of payment provides safety to the currency as transactions are clearly defined and recorded, and because of their decentralized nature, no centralized authority to verify the transaction is needed; as such, no additional fee is incurred. Transactions are faster, products are well developed, and the players using cryptocurrency are protected by the added anonymity.
Moreover, the use of cryptocurrencies and blockchain technologies brought new developments such new crypto games designed exclusively for this type of casinos, or provably fair games which allow the player to check the legality of a game themselves. To keep up with the growth in the industry, fiat casinos started accepting crypto and they enabled easier and faster deposits and withdrawals.
Although some online fiat casinos accept Bitcoin (BTC), popular altcoins that have increased in value over the years have also been received. They include:
What is a hybrid casino?
What's a "hybrid"? Apart from a popular category of cars in California and according to the Merriam-Webster's dictionary is "something (such as a power plant, vehicle, or electronic circuit) that has two different types of components performing essentially the same function". In simple words hybrid is a creature or object which combines elements of two different species and still functions. Hybrid casinos combine elements of both fiat and crypto casinos but still operate perfectly normally.
They have a few differences to crypto casinos. While they accept payments and withdrawals in one or a few coins, players aren't allowed to wager with them. On Cloudbet or any other exclusively crypto casinos players can bet on Bitcoin or Ethereum or the other available coins. On a hybrid casino their coins will be converted to a fiat currency and even if they can cashout in crypto they can't wager with it.
Also, hybrid casinos while some add crypto games and a more crypto look on their platforms in general they tend to resemble a more traditional old fashioned fiat casino. Another common characteristic is that hybrid casinos tend to have more alternative payment options compared to both fiat and crypto casinos. This is because their business model relies on accepting various forms of payment. Some well-known examples of alternative payment options are Neteller, Wise, and Skrill.
Licensed or Unlicensed hybrid casinos?
Plenty of scammers, rogue websites, and fraudulent characters are out there. One of the most challenging decisions is choosing which hybrid casino to use; however, there are some simple pointers to consider when making up your mind.
First and most importantly, you’ll need to find a hybrid casino with a solid reputation. Generally, licensed hybrid casinos are the way to go, although there are some expectations to the rule.
We’ve always recommended players use the services of a licensed casino for the obvious reason that it presents fewer problems in the long run. Licensed hybrid casinos are less likely to run off with your hard-earned funds and offer some form of customer support services.
Furthermore, licensed hybrid casinos are equipped with SSL encryption to secure personal information. In addition, should you encounter any problems, the casino license board provides a recourse action for your funds.
This isn’t to say that unlicensed hybrid casinos should be discredited entirely; they still hold some advantages over licensed casinos. Gambling with an unlicensed casino is risky, but you’ll benefit from no KYC/AML policies, and you can remain completely anonymous.
However, if you’re only interested in remaining anonymous, why not use Monero (XMR)?
Best hybrid casinos
PlayAmo Casino is an online fiat casino established by a known gaming company Direx N.V. in 2016. Unsurprisingly, PlayAmo Casino accepts cryptocurrencies to stay competitive in the market. It is well-known for providing various different options of fiat transactions and crypto transactions.
Supported cryptos: PlayAmo's payment options are worth mentioning positively because bitcoin (BTC) and other coins aren't only just accepted, but most of the games are played in bitcoin format, which means your credit value remains BTC or mBTC instead of a fiat currency.
Deposit and Withdrawal: PlayAmo charges a fee for the deposit and withdrawal of Bitcoin. It charges 0.2% on every minimum and a maximum deposit of €5 and €4000 worth of BTC, respectively. It also charges 0.2% on the instant minimum and maximum withdrawals of €20 and €4000 worth of BTC.
License: PlayAmo is licensed and regulated by Antillephone N.V. (license no. 8048/JAZ2020-013).
Payment verification: Bitcoin's withdrawal and deposit payments are verified instantly, so you don’t have to wait for days to get your winnings.
Megaslot casino is one of the newer casinos created in 2021, and it is known for its focus on online slots and many online casino games. It is also one of the casinos that offer players the service of playing with either fiat currencies or cryptocurrencies.
Supported cryptos: MegaSlot casino offers players the opportunity to deposit and make withdrawals with various cryptocurrencies. Acknowledging the benefits attached to the use of crypto, MegSlot has enriched its coins portfolio with the following coins: Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Litecoin (LTC), BitcoinCash (BCH), Tether (USDT)
Deposit and Withdrawal: MegaSlot casino offers a limit of €20 for most payment methods. On crypto deposit, it charges 0.1 mBTC for Bitcoin, 0.01 USDT for Tether, 0.001 BCH for BitcoinCash, 1 DOGE for Dogecoin, 0.01 ETH for Ethereum and 0.01 LTC for Litecoin. There is no limit on how much crypto you can fund your account with; you are free to deposit as much as you want.
The minimum withdrawal limits you can make on cryptocurrency are €20 in BTC, 0.23 BCH for BitcoinCash, 20,000 DOGE for Dogecoin, 0.15ETH for Ethereum, 1LTC for Litecoin, and 5,000 USDT for Tether. You can make maximum withdrawal limits of €5,000 worth of BTC, 23 BCH, 1,900,000 DOGE, 14ETH, 113LTC, and 5,000 USDT.
License: MegaSlots holds licenses from UKGC and MGA, both recognized regulatory authorities.
Payment verification: MegaSlot's verification process is ultra-fast compared to other online casinos. When you deposit cryptocurrency, it takes a few minutes for your funds to be deposited, and it takes seconds to get your funds out of the casino. Overall, the Megaslot team verifies all withdrawals within 24 hours.
Lucky Creek is an online casino founded by Genesys Technology Group in 2010 and based in the Dutch Antilles. They have unmatched high-level security, exciting promotions, high returns, and some of the best slots. However, especially to players depositing with crypto they offer a 20% cashback on their first two deposits.
Supported cryptos: Lucky Creek banking system has its positive aspect, one of which is the acceptance of cryptocurrencies. The crypto accepted include: Bitcoin, Ethereum, Litecoin
Deposit and Withdrawal: Lucky Creek offers users free deposits on cryptocurrency and a 20% cashback on their first two deposits while the minimum deposit limit is $20. Players have a minimum withdrawal limit of $100 on crypto but only for bonus funds.
License: Lucky Creek is licensed under the laws of Curaçao.
Payment verification: Depositing funds with crypto on Lucky Creek is instant, and usually you receive your winnings within a few minutes, ID verification might be depending on the amount you are about to withdraw
Nomini is an online casino with many slots and table games players can enjoy. It is newly established and has excellent welcome bonus packages that suits new players who want to play the most with a limited balance.
Supported cryptos: Nomini accepts a fair number of cryptocurrencies. These are: Bitcoin, Litecoin, Ethereum, Ripple
Deposit and Withdrawal: The minimum deposit limit is €20; however, you can get a higher deposit limit if you claim a bonus with an offer. Also, the minimum withdrawal depends on your VIP status. Level 1 players can withdraw €500 per transaction and €10,000 per month.
License: Nomini is operated by the Cyprus-based Tranello with the license number (8048/JAZ2016-064).
Payment verification: Crypto deposits on Nomini are instant and free. Also, if you are making a withdrawal of your winnings in cryptocurrency, payment verification varies between 24 hours and 7 days after submitting a request.
Launched in 2018, 22Bet is an online casino characterized by easy payments and fast withdrawals, generous rewards for players and a huge betting availability.
Supported cryptos: 22Bet accepts a wide range of cryptocurrencies as payment for deposits and withdrawals. These currencies include: Bitcoin, Ethereum, Litecoin, Dash, Dogecoin, Ripple, Tether and more.
Deposit and Withdrawal: Each payment with crypto has its deposit and withdrawal limits. When you deposit with BTC, the minimum deposit is 0.01 mBTC.
There are higher withdrawal limits for other cryptocurrencies. These are 1.80 mBT for Bitcoin, 50 ETH for Ethereum, 1 DASH for Dash, 100 DOGE for Dogecoin, and 10 LTC for Litecoin. On the other hand, users have an unlimited maximum withdrawal limit on all cryptocurrencies.
License: 22Bet is licensed by the laws of Curaçao and regulated by the UKGC.
Payment verification: Withdrawals can be made through the cryptocurrency wallets you are registered with, and verification is usually done within an hour.. Although, for new players, verification can take up to 24 hours due to increased security checks.
Want to learn more about 22Bet? Check our in-depth review here.
Launched in 2013, Cloudbet is an online casino specializing in massive deposit bonuses, enhanced betting limits for high rollers, fast transactions, and a trustworthy reputation.
Supported cryptos: Cloudbet accepts a wide range of cryptocurrencies as payment for deposits and withdrawals. These currencies include Bitcoin, Binance, Binance USD, Cardano, Ethereum, Litecoin, Dash, Polkadot, Dogecoin, Ripple, Tether, and more.
Deposit and Withdrawal: Cloudbet's minimum deposit limit is dependent on the currency/ cryptocurrency used, for example, 0.0001 BTC, 0.01 ETH / PAXG / stETH, 0.03 BCH, 0.05 BNB, 0.1 DASH / LTC. There is an unlimited withdrawal amount for all crypto and fiat currencies.
License: Cloudbet is licensed under the laws of Curaçao, with the gaming license 1668/JAZ.
Payment verification: The deposit and withdrawal process is smooth and instant. Click the "Deposit" button, select your currency, and the deposit address will appear. Players are required to verify their accounts with a corresponding email address. In just a few minutes, you'll be able to enjoy Cloudbet.
Want to learn more about Cloudbet? Check our in-depth review here.
Launched in 2016, 500 Casino is an online casino characterized by its diverse collection of games and competitive sportsbook.
Supported cryptos: 500 Casino accepts a wide selection of cryptocurrencies and supports several deposit options, including PayPal, GooglePay, ApplePay, and more. 500 Casino's range of accepted cryptos includes Bitcoin, Ethereum, Litecoin, Binance, Tether, US Coin, Dogecoin, Matic, and more.
Deposit and Withdrawal: Every payment at 500 Casino has a deposit limit of $10 or the crypto equivalent. There is a minimum withdrawal amount of $10 or the crypto equivalent, but there's no maximum limit on how much you can withdraw.
License: 500 Casino is licensed under the laws of Curaçao.
Payment verification: Withdrawals can be speedily processed under the "Cashier" button. Specify your currency and whisk off to fill in your wallet address or debit card details. Players must verify their accounts with a secret code sent to their email address. Payment generally takes 5 - 10 minutes to be processed, depending on the country of use.
Want to learn more about 500Casino? Check our in-depth review here.